Gaja Alternative Asset Management IPO
Gaja Alternative Asset Management IPO is a mainboard IPO raising ₹550 Cr at ₹152 – ₹160 a share. It listed on 26 Aug 2026 at ₹185, +15.6% against its issue price of ₹160, and trades at ₹155 today (−2.9% since issue). It was subscribed 31× in total.
31.3 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Who bid for it
| Investor category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| QIB Banks, funds and other large institutions | 72,36,840 | 31,53,82,716 | 44× |
| Foreign Institutional Investors | no separate quota | 8,97,37,188 | n/a |
| Domestic Financial Institutions | no separate quota | 11,52,02,169 | n/a |
| Mutual funds | no separate quota | 1,41,26,049 | n/a |
| Others | no separate quota | 9,63,17,310 | n/a |
| Non-institutional Wealthy individuals and companies bidding above ₹2 lakh | 54,27,632 | 33,84,17,979 | 62× |
| Non Institutional Investors | 36,18,422 | 26,13,36,138 | 72× |
| Corporates | no separate quota | 44,70,789 | n/a |
| Individuals | no separate quota | 24,52,38,396 | n/a |
| Others | no separate quota | 1,16,26,953 | n/a |
| Non Institutional Investors | 18,09,210 | 7,70,81,841 | 43× |
| Corporates | no separate quota | 3,44,658 | n/a |
| Individuals | no separate quota | 7,34,17,269 | n/a |
| Others | no separate quota | 33,19,914 | n/a |
| Retail Ordinary investors bidding up to ₹2 lakh | 1,26,64,474 | 13,97,59,656 | 11× |
| Cut Off | no separate quota | 11,66,29,998 | n/a |
| Price bids | no separate quota | 2,31,29,658 | n/a |
| Total | 2,53,28,946 | 79,35,60,351 | 31× |
Sub-categories read no separate quota rather than a dash: the exchange publishes bids at that level but never a reservation against them, so a subscription multiple does not exist — it is not missing data. Bids across both exchanges (NSE and BSE) — the figure usually quoted publicly. Last updated 22 Aug, 08:15 am IST.
Where the bids landed
Demand barely changes across the price band — bidders were not price-sensitive. 15% of the book was bid at cut-off — investors who accept whatever price is set.
Cumulative shares bid for at each price, across both exchanges. “Cut-off” means the investor accepts whatever final price is set — mostly small retail applications. A band where demand barely changes between the low and high price tells you bidders were not price-sensitive.
How demand built
Our own series — the exchanges publish a running total and never a history.26 readings held.
Institutions typically enter the book on the final day, which is why a day-one subscription figure tells you very little.